Marsdenia tenacissima is a well-known anti-cancer medicinal plant used in traditional Chinese medicine. Drought severely affects production and no information on its transcriptional responses to drought stress is available. In this study, cDNA libraries on control (CK), drought stress (T1), and re-watering (T2) treatments were constructed and HiSeq 2000 sequencing was performed using the Illumina platform.There were 43,129,228, 47,116,844, and 42,815,454 clean reads with Q20 values of 98.06, 98.04, and 97.88, respectively. A total of 8672, 6043, and 6537 differentially expressed genes (DEGs) were identified when CK vs. T1, CK vs. T2, and T1 vs. T2, respectively, were analyzed. In addition, 1039, 1016, and 980 transcription factors (TFs) were identified in CK, T1, and T2, respectively. Among them, 363, 267, and 299 TFs were identified as DEGs in CK vs. T1, CK vs. T2, and T1 vs. T2, respectively. These differentially expressed TFs mainly belonged to the bHLH, bZIP, C2H2, ERF, MYB, MYB-related, and NAC families. A comparative analysis of CKvs. T1 and T1 vs. T2 found that 1174 genes were up-regulated and 2344 were down-regulated under drought stress and this pattern was the opposite to that found after re-watering. Among the 1174 genes up-regulated by drought stress, 64 were homologous to known functional genes that directly protect plants against drought stress. Furthermore, 44 protein kinases and 38 TFs with opposite expression patterns under drought stress and re-watering were identified, which are possibly candidate regulators for drought stress resistance in M. tenacissima. Our study is the first to characterize the M. tenacissima transcriptome in response to drought stress, and will serve as a useful resource for future studies on the functions of candidate protein kinases and TFs involved in M. tenacissima drought stress resistance.